Total amount raised
$622.5 Millions
Latest funding date
1/1/2024
Location
Carbon Health has successfully raised significant funding through multiple rounds, attracting a diverse group of investors. The company offers a range of healthcare services, including primary and urgent care, both in-person and via their app.
Keep reading to explore the intricacies of Carbon Health's fundraising journey and the investors backing this innovative healthcare platform.
What Is Carbon Health?
Founded in 2015, Carbon Health is a tech-enabled healthcare company based in San Francisco, California. The company was established by Caesar Djavaherian, Eren Bali, Greg Burrell, Pablo Stanley, and Tom Berry.
Carbon Health offers a comprehensive range of services, including primary care, urgent care, and virtual care, all accessible through their mobile app. They also provide specialized services such as mental health and women's health.
With a workforce of 1001-5000 employees, Carbon Health is dedicated to delivering modern, accessible healthcare solutions to patients across the United States.
How Much Funding Has Carbon Health Raised?
- Seed Round
- Amount Raised: $3M
- Date: May 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and develop initial healthcare services.
- Series B
- Amount Raised: $35M
- Date: June 2019
- Lead Investors: Brookfield Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand service offerings and scale operations.
- Series B
- Amount Raised: $28M
- Date: May 2020
- Lead Investors: DCVC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and expand healthcare services.
- Series C
- Amount Raised: $100M
- Date: November 2020
- Lead Investors: Dragoneer Investment Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and development of healthcare services.
- Series D
- Amount Raised: $350M
- Date: July 2021
- Lead Investors: Blackstone Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the Connective Care model and improve technology.
- Series D
- Amount Raised: $100M
- Date: January 2023
- Lead Investors: CVS Health Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the Connective Care model and invest in technology.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: April 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: March 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Series D
- Amount Raised: Not publicly disclosed
- Date: March 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and expansion.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: January 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling operations and enhancing technology.
Carbon Health has raised a total of $616M. The current valuation is not publicly disclosed.
Key Investors
- CVS Health Ventures
- Details: CVS Health Ventures is the corporate venture capital arm of CVS Health, focusing on investments that align with CVS Health's strategic goals in healthcare.
- Investment Focus Areas: Healthcare solutions, patient care, health technology.
- Notable Investments: Carbon Health.
- Blackstone Horizon
- Details: Blackstone Horizon is the growth equity investment arm of Blackstone, one of the world's leading investment firms.
- Investment Focus Areas: Growth equity, technology, consumer products.
- Notable Investments: Bumble, Oatly, Epidemic Sound.
- Dragoneer Investment Group
- Details: Dragoneer Investment Group is a long-term investment firm that focuses on growth companies across various sectors.
- Investment Focus Areas: Technology, consumer internet, healthcare.
- Notable Investments: Airbnb, DoorDash, Snowflake.
- Brookfield Technology Partners (BTP)
- Details: Brookfield Technology Partners is the technology investment arm of Brookfield Asset Management, focusing on innovative technology companies.
- Investment Focus Areas: Technology, innovation, infrastructure.
- Notable Investments: Various technology companies.
- DCVC
- Details: DCVC (Data Collective Venture Capital) is a venture capital firm that invests in deep tech companies leveraging data science and engineering.
- Investment Focus Areas: Deep tech, data science, engineering.
- Notable Investments: Carbon Health.
What's Next for Carbon Health?
Carbon Health is poised to expand its Connective Care model into new geographies, leveraging a $100 million investment from CVS Health Ventures. This opportunity is substantial, given their existing presence in 13 states and over 125 physical locations. The integration of their model into CVS Health locations could further amplify their reach and impact.
Future fundraising appears promising, with the Series D round still open for additional investments. The strategic partnership with CVS Health could attract more investors, especially if pilot programs succeed. However, challenges such as maintaining high standards of care and navigating regulatory landscapes in new regions remain significant hurdles.
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